Forget “Incredible India”, the government advertising campaign that uses images of sari-wearing princesses and trumpeting elephants to attract tourists to the sub-continent.

India has a new kind of visitor – the real estate investment tourist, or “reit”, as Ravi Raheja, group president of K Raheja Corp, the Mumbai-based developer, likes to call the foreign private equity investors, bankers and others looking to buy into its property market.